While you can hold every private key in the palm on your hand, there are a staggering number of possible wallet addresses that can be generated from a seed phrase. And advanced users may take advantage of these possibilities by using custom derivation paths on their hardware wallets to select new addresses.
The ability to choose a custom derivation path is popular among developers (who need to access test nets) and whales (who have many accounts that they use to secure funds). And support for hardware wallets and custom derivation paths is a commonly requested feature for leading applications.
Having a native hardware wallet integration was the most requested feature for the
Gnosis Safe multisig. Thanks to Blocknative, we were able to deliver an easy and trusted way to use a Ledger or Trezor device with a multisig using Onboard.js.
— Lukas Schor, Product Manager For Gnosis Safe
The latest release of Onboard.js enhances our hardware support module, adding the ability to choose from common derivation paths or enter a custom derivation path. Read on to learn about what custom derivation paths are and why supporting them matters.